Lawsuit for Investors in shares of Yahoo! Inc. (NASDAQ:YHOO) announced by Shareholders Foundation

March 03, 2017 13:55 ET | Source:Shareholders Foundation, Inc.

SAN DIEGO, March 03, 2017 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed in California for certain purchasers of shares of Yahoo! Inc. (NASDAQ:YHOO) over alleged Securities Laws Violations by Yahoo! Inc.

Investors, who purchased shares of Yahoo! Inc. (NASDAQ:YHOO), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges the defendants made false and/or misleading statements and/or failed to disclose that Yahoo! Inc failed to encrypt its users' personal information and/or failed to encrypt its users' personal data with an up-to-date and secure encryption scheme, that consequently, sensitive personal account information from more than 1 billion users was vulnerable to theft, that a data breach resulting in the theft of personal user data would foreseeably cause a significant drop in user engagement with Yahoo! Inc's websites and services, and that as a result, Yahoo! Inc 's public statements were materially false and misleading at all relevant times.

On September 22, 2016, Yahoo! Inc. revealed that a “recent investigation” confirmed that sensitive personal account information of at least 500 million account users “was stolen from the company’s network in late 2014 by what it believes is a state-sponsored attack.” Reportedly users’ names, email addresses, phone numbers, dates of birth, hashed passwords, and some encrypted or unencrypted security questions and answers were included in the data breach.

Those who purchased Yahoo! Inc. (NASDAQ:YHOO) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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